Key Developments: Gannett Co Inc (GCI)

GCI on New York Consolidated

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21 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Gannett Co Inc announces quarterly dividend
Tuesday, 28 Oct 2014 01:57pm EDT 

Gannett Co Inc:Declares a dividend of 20 cents per share.Payable on Jan. 2, 2015 to stockholders of record as of the close of business on Dec. 5.  Full Article

Gannett Co., Inc completes acquisition of remaining 73 pct. interest in Cars.com
Wednesday, 1 Oct 2014 09:16am EDT 

Gannett Co., Inc:Says that it has completed acquisition of the remaining 73 pct. interest in Classified Ventures LLC, which owns Cars.com, for $1.8 billion.  Full Article

Gannett Co., Inc. announces completion of $675 mln offering of senior notes
Monday, 8 Sep 2014 10:34am EDT 

Gannett Co., Inc:Announces completion of its previously announced private placement offering of $350 million aggregate principal amount of its 4.875pct Senior Notes due 2021 and $325 million aggregate principal amount of its 5.500pct Senior Notes due 2024.Intends to use the net proceeds from the offering plus available cash and borrowings under its revolving credit facility to finance the acquisition of all of the interests of Classified Ventures, LLC that it does not already own.Any remaining proceeds may be used for general corporate purposes.  Full Article

Gannett Co Inc announces pricing of $675 million of senior notes
Wednesday, 3 Sep 2014 05:34pm EDT 

Gannett Co Inc:Prices offering of senior notes due 2021 and senior notes due 2024.Face value of 2021 Notes is $350 mln, with an interest rate of 4.875 pct.2021 Notes were priced at 98.531 pct of face value.Subject to certain exceptions, the 2021 Notes may not be redeemed by company prior to Sept. 15, 2017.Face value of the 2024 Notes is $325 mln, with interest rate of 5.500 pct.2024 Notes were priced at 99.038 pct of face value.Subject to certain exceptions, the 2024 Notes may not be redeemed by company prior to Sept. 15, 2019.Intends to use net proceeds from offering plus available cash and borrowings under revolving credit facility to finance acquisition of all of outstanding membership interests of Classified Ventures, LLC that it does not already own.Any remaining proceeds may be used for general corporate purposes.  Full Article

Gannett Co Inc announces offering of senior notes
Wednesday, 3 Sep 2014 07:21am EDT 

Gannett Co Inc:Intends to offer $350 mln of senior notes due 2021 and $325 mln of senior notes due 2024 in private offering.Notes will be guaranteed on a senior basis by subsidiaries ofCompany that guarantee its revolving credit facility.Company intends to use net proceeds from offering plus available cash and borrowings under its revolving credit facility to finance the acquisition of all of outstanding membership interests of Classified Ventures, LLC that it does not already own.Any remaining proceeds may be used for general corporate purposes.  Full Article

Graham Holdings Co agrees to sell investment in Classified Ventures to Gannett Co Inc
Tuesday, 5 Aug 2014 08:45am EDT 

Graham Holdings Co:To sell their stake in Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV at $2.5 bln. Gannett currently owns a 27 pct share of CV; Graham Holdings owns a 16.5 pct share.Transaction is expected to close before the end of 2014, subject to regulatory review.  Full Article

Tribune Media announces agreement to sell 27.8 pct stake in Classified Ventures to Gannett
Tuesday, 5 Aug 2014 06:35am EDT 

Tribune Media Co:Says with the remaining partners in Classified Ventures, LLC (CV) enters into a definitive agreement to sell its entire stake in CV to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.Expects to use the proceeds from this transaction for general corporate purposes.Moelis & Company served as financial advisors and Skadden, Arps, Slate, Meagher & Flom provided legal counsel to CV on this transaction.  Full Article

Gannett to create two companies with scale through spin-off of Publishing Business to Gannett Shareholders
Tuesday, 5 Aug 2014 06:30am EDT 

Gannett Co Inc:Plans to create two publicly traded companies with scale: one exclusively focused on Broadcasting and Digital businesses, and the other on Publishing business.Planned separation of the Publishing business will be implemented through a tax-free distribution of Gannett's Publishing assets to shareholders.Transaction will create two focused companies with increased opportunities to grow organically across all businesses as well as pursue strategic acquisitions.Also signed a definitive agreement to acquire full ownership of Cars.com, one of the digital companies in the automotive space.Under the agreement, Gannett will acquire the 73 pct interest it does not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 bln in cash.  Full Article

A. H. Belo Announces Agreement to sell investment in Classified Ventures to Gannett Co
Tuesday, 5 Aug 2014 06:30am EDT 

A. H. Belo Corp:Says along with its partners in Classified Ventures, LLC, enters into a definitive agreement to sell its units in Classified Ventures (CV) to Gannett Co., Inc. for a price that values CV at $2.5 bln.Transaction is expected to close before the end of 2014.Moelis & Company LLC acted as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as exclusive legal advisor to A. H. Belo Corporation, its selling partners and CV.  Full Article

Gannett Co Inc announces quarterly dividend
Tuesday, 29 Jul 2014 04:15pm EDT 

Gannett Co Inc:Declares dividend of 20 cents per share.Payable on Oct 01, 2014 to stockholders of record as of close of business on Sept. 05, 2014.  Full Article

UPDATE 4-New York Times to cut jobs as new products disappoint

Oct 1 - The New York Times Co said it would cut jobs, including about 7.5 percent of its newsroom positions, as advertising revenue dwindles and new digital products fail to live up to expectations.

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